Prepare for Financial Emergencies

Listen to Saving for Financial Emergencies:

Dealing with an emergency is difficult enough, but add to that the stress of not being able to cover your bills afterward. An unexpected accident, illness or car repair can leave you in a lot of financial pain long after the initial crisis. According to a recent MassMutual study, half of our community would be in real financial trouble if faced with an unexpected expense of $5,000. If you’re stressed just thinking about it, listen in as David and John cover the five steps to getting prepared for a financial emergency.

Today the Debt Free Guys address emergency savings goals, the importance of having a separate account for this money, and the value of direct deposit in gradually building enough savings to cover six months of living expenses. Learn why it’s essential to build your emergency savings before you deal with other financial goals and when ‘out of sight, out of mind’ is a good thing! If you’re not prepared for a financial emergency, it’s time to start building your emergency savings today – with these five simple steps!

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